Tuesday, 23, July, 2024

The Presidents of Uzbekistan Shavkat Mirziyoyev and the Republic of Korea, Yoon Seok Yeol signed a Joint Statement on Deepening and Expanding the Special Strategic Partnership Ties.

The two leaders also oversaw the signing of 17 accords, including:

  • Intergovernmental agreement with the Fund for Economic Development and Cooperation;
  • Agreements with the Export-Import Bank of Korea and Hyundai Rotem on the purchase and supply of high-speed electric trains;
  • Agreement with the Export-Import Bank of Korea to provide equipment for science and information and communications education in schools;
  • Agreement on the implementation of the project of the innovative pharmaceutical cluster “Pharma Park”;
  • Agreement on cooperation in the field of strengthening the capacity of civil servants of Uzbekistan;
  • Cooperation program between ministries of foreign affairs for 2025–2027;
  • Protocol on cooperation within the World Trade Organization;
  • Protocol on cooperation in the field of culture;
  • Agreement on cooperation in the field of transport;
  • Agreement on cooperation on modernization of district heating systems in the regions of Uzbekistan;
  • Critical minerals partnership agreement;
  • Agreement to facilitate the activities of the Uzbek-Korean joint committee on trade and economic cooperation;
  • Memorandum of cooperation on training qualified and professional personnel;
  • Memorandum of cooperation in the field of agriculture;
  • Agreement between UzSanoatQurilishBank and the Export-Import Bank of Korea on an interbank master credit line and others.

As reported by the South Korean Yonhap agency, Hyundai Rotem, as part of $195.7 million worth of deal, will supply six high-speed trains for 42 cars to Uzbekistan Railways, and will also provide services for their maintenance and repair.

This is the first export of high-speed trains developed using Korean technology in two decades since the train was introduced with French support in 2004.

Regarding cooperation between Uzbekistan and South Korea in the field of critical materials, Yonhap clarifies that the signed agreement will pave the way for a comprehensive partnership, ranging from joint exploration to the use of mineral resources.

“Both countries agreed to maximize synergies in supply chain cooperation by combining the rich mineral resources of Uzbekistan and the advanced technologies of South Korea,” the agency quoted the South Korean president following a joint press conference.

The agreements are aimed at developing a partnership covering the entire cycle of exploration, production and processing of key minerals, including lithium, and giving Korean companies priority in the development of economically profitable minerals, the agency notes, citing the Administration of the President of the Republic of Korea.

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2024-07-22